SOLD: Wed., Oct 19 / 16 @ 6pm

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UNRESERVED REAL ESTATE AUCTION
@ 12 Maple Ave., North, Smiths Falls, ON K7A 1Z5

on Wed., Oct 19/16 @ 6pm

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~ Become a Landlord & Turn an Established Profit ~

Property is located in the central portion of Smiths Falls just off Beckwith St., the main downtown route. Featuring a well maintained bldg w/ brick front & stucco sides & rear. Gross bldg area of 8,740 sq. ft. (+/-). The bldg is fully tenanted by Willis College (6,445 sq ft (+/-) having reception, lobby, 3 offices, 7 classrooms, cafeteria, staff lunch room, 2 main floor washrooms (men’s 6 pce & ladies 4 pce) & upper level has 2-2 pce washrooms (male & female). CrossRoads Truck Training Academy (2 classrooms) & Ambulance Station (2,295 sq ft (+/-) w/ 2 offices, lounge/kitchenette area, 2 washrooms (male & female) w/ showers, garage area, upper mezzanine. Elec. overhead (10’x22’) door to garage. Heating is gas fired hot water boiler system plus a ceiling mounted F/A, gas fired system (in ambulance garage bay) & elec. baseboard heat in ambulance offices. Electrical includes 1-200 amps, 2-100 amps & 4-60 amps. Water Sprinkler System. 3 air conditioners (1 brand new). Security alarm system. This property shows a profit. The seller has agreed to accept the highest bid without reserve, regardless of price. For private viewing, terms & conditions please call our office at 613-267-6027 or 613-326-0461.

Additional Information

Legal Description – Lot 11, South Side William St, Plan 13884, Lanark South, South Elmsley, Lot 115, South Side William St., Plan 13884, Lanark South, South Elmsley, Town of Smiths Falls, Lanark County.

Roll # 09 040 10015 08500 0000

Land Area – 14,400 sq. ft. w/ paved drive & parking.
Having 120 ft (+/-) on Maple Avenue and 120 ft (+/-) on William Street

Built approximately 1965.

Concrete block & concrete slab foundation.

Good flat, tar & gravel roof.

Acoustic tile (drop T) ceiling.

Flooring – laminate, carpet & linoleum.

Fiberglass batten insulation observed.

3 air conditioners (1 brand new 2016)

New valve in sprinkler system Sept. 2016
New control panel for fire alarm system Sept. 2016
Both valve & panel costing $ 2,000.00)

Land taxes – $22,200.00 (+/-)

Site Services – include municipal water, sanitary sewer, natural gas, hydro, telephone, police & fire protection.

Zoning is C1 General Commercial – see attached Zoning Excerpts

Income & Expense Summary for 2016 is Available Upon Request.

2015 Appraisal is available for review. Estimated by Rivington Associates (Commercial Division Inc) to be $ 590,000.00

Lease Information

• In order to vacate & thus end the lease terms, either party, tenant or landlord must give 4 months notice without penalty.

• Willis College, Educational Centre (is a great community institution associated w/ Ottawa & Arnprior). There have been 2-5 year contracts w/ Willis. They are in year 2 of the 2nd contract which began July 1st, 2015.

• The Ambulance lease was up May 1st last year and they have extended it on a monthly basis until Dec. 1st 2016 when their new building will be ready. They have fulfilled their lease.

• CrossRoads Truck Training Academy has no lease but rents directly from Willis College @ $ 875.00 (+/-) per month

• Landlord pays all expenses, except cleaning supplies & each tenant pays their own insurance.

Auctioneers & Qualified Appraisers
Jim & Trevor Hands: The Voices of Experience
Phone: (613) 267-6027 or (613) 326-0461 www.jimhandsauction.com

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